The significant increase in Shiba Inu’s (SHIB) burn rate has attracted market attention. The meme token experienced a remarkable 6200% rise in its burn rate within a single day, creating a positive impact in the market. Investors are closely monitoring the implications of this supply reduction on the token’s price, which increased by 4% in response to the elevated burn rate.
- 0 replies
- 0 recasts
- 1 reaction
The celebrity memecoin scandal is back with a fresh chapter. American Rapper Wiz Khalifa is the latest tied to a fraudulent token. Celebrity meme coins have become a recurring trend in 2024. Throughout this year, the crypto industry has seen a surge in high-profile figures jumping on the bandwagon, launching tokens that promise quick gains but often deliver disaster. The trend has been largely characterized by quick pump-and-dump schemes, leaving many investors to face steep losses. While the industry was thought to be catching a break, another chapter in the scandal has emerged.
- 0 replies
- 0 recasts
- 0 reactions
Coinbase CEO Brian Armstrong and billionaire Elon Musk have joined a growing list of notable figures endorsing pro-crypto attorney John Deaton in his bid to unseat Senator Elizabeth Warren as Massachusetts’s representative. On Oct. 21, Armstrong took to the social media platform X (formerly known as Twitter), urging crypto holders in Massachusetts to back Deaton. He criticized Warren for her role in appointing Gary Gensler as SEC Chair and accused her of supporting efforts to dismantle the crypto industry in the US.
- 0 replies
- 0 recasts
- 0 reactions